Logging payments in Overture is an essential step to ensure your financial records remain accurate and up-to-date. This guide will walk you through the process of logging payments and managing deductions where necessary.
When to Log a Payment
- You only need to log payments that are paid to the agency.
- If a service is marked as paid directly to the artist, there is no need to log it within the financial section of the booking page.
Steps to Log a Payment
- Navigate to the Log Payment Page
- Go to the relevant booking page.
- On the right-hand side, locate and click Log Payment in the sidebar.
2. Enter the Payment Date
- In the “Received On” box, select the date the payment was made.
3. Review Service Lines
- A new row will automatically appear for each service line, pre-filled with the total amount due.
- The logged amount is automatically calculated and displayed at the top-right of the page.
4. Save the Payment
- If the full amount has been received with no deductions, simply click Save Changes.
- That’s it—you’re done!
How to Log a Partial Payment
If the promoter has paid less than the full amount, you can adjust the payment as follows:
1.Edit the Fee Amount
- Click on the relevant service line to open the editable row.
- In the Fee box, replace the full amount with the actual amount paid.
2.Save the Partial Payment
- Verify the updated total at the top-right of the page.
- Click Save Changes to confirm.
Example:
If the original service fee was £1,000 but the promoter has paid £600, edit the Fee box to reflect £600.
In the above example £800 is being logged – £600 so far for the partial payment of the Balance plus £200 for the Booking Fee.
How to Log Deductions
Deductions occur when a promoter makes specific adjustments, such as venue fees, marketing costs or bank charges. Here’s how to log a deduction:
- Select the Service Line
- Click on the row where you want to log a deduction and a new section will appear containing ‘Currency Conversion’, Promoter Deductions’ and ‘Agency Deductions’.
2. Add a Promoter Deduction
- Click Add a promoter deduction, name the deduction (e.g., “Bank Charge”), and enter the amount.
3.Review Updates
- The deduction will appear in the Promoter Deduction column, and the total received will be updated automatically.
4.Save the Changes
- Once the totals are correct, click Save Changes.
Agency Deductions
- While promoter deductions are commonly used, Agency Deductions are available for specific adjustments.
- However, many agency-related deductions can also be logged in the Expenses section of the booking page.
Summary
By following these steps, you can easily log payments and deductions in Overture, keeping your records accurate and organised. Whether you’re tracking full payments, partial payments, or specific deductions, the process ensures clear and consistent reporting.
If you need further assistance, don’t hesitate to reach out to Overture support!